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of <h1>Merchanting trade transaction controls: six-month remittance window, AD discretion for extensions, restricted third-party flows, documentation and records required</h1> Regulation prescribes controls on Merchanting Trade Transactions (MTT): a temporal restriction requires the interval between outward and inward remittances not to exceed six months, with the Authorised Dealer able to grant extensions on satisfaction of reasons, thus limiting transaction duration subject to AD discretion; a counterparty rule mandates outward remittances only to the overseas seller and inward remittances only from the overseas buyer, with the Authorised Dealer empowered to permit third-party receipts/payments upon justified request, thus restricting third-party flows unless approved; a documentation requirement obliges provision of documents evidencing MTT to establish genuineness, thereby enabling verification; Authorised Dealers must satisfy themselves of genuineness before debiting/crediting customer accounts and must simultaneously close or update EDPMS/IDPMS entries and monitor completion of both transaction legs within prescribed timeframes, thereby creating record-keeping and oversight duties.
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